Box stock jumps 12% after seeing $85 million in revenue for Q4 2016

Cloud file syncing and sharing software company Box today reported strong financial figures for the fourth quarter of fiscal year 2016, which ended on January 31.

Box reported a $0.26 non-GAAP net loss on $85 million in revenue for the quarter. Analysts were expecting a loss of $0.29 per share on $81.77 million in revenue. Revenue was up 36 percent year over year, according to a statement.

Box said it had 57,000 paying business customers at the end of the quarter, up from 54,000 paying business customers as of October 31.

Box forecast a non-GAAP loss of $0.23 to $0.24 on $88-89 million in revenue for the first quarter of its 2017 fiscal year, which will end on April 30.

The stock was up more than 12 percent in after-hours trading following a day of the stock going up in anticipation of strong earnings.

Box went public in January 2015. Competitors include Google, Microsoft, and Dropbox.